Cattle futures mixed, watching direct cash trade develop

Chicago Mercantile Exchange live cattle futures were narrowly mixed, with boxed beef mixed at midday as traders watched direct cash business develop. The USDA currently projects 2018 beef production at 26.944 billion pounds, compared to 27.094 billion in September, with the reduction tied to expectations for a slower fourth quarter slaughter pace. The USDA also expects lighter weights because of an increased cow kill rate. Imports were slightly lower, exports were unchanged, and per capita consumption was down fractionally.